Progressive groups that have long advocated for a change in the leadership of the World Bank have decried U.S. President Joe Biden¡¯s nomination of a former Wall Street and corporate executive as more of the same at the anti-poverty lender.
Washington¡¯s selection of former Mastercard Chief Executive Officer Ajay Banga to be the World Bank¡¯s president was being condemned as a forfeited opportunity to tap a candidate with deep public-sector experience combating economic inequality and climate change.
The World Bank needs a leader ¡°who will prioritize the urgency of the climate crisis, not another big business executive,¡± said Collin Rees, U.S. program co-manager at Oil Change International, a group that pushes a pivot away from fossil fuels. ¡°Banga¡¯s long career at predatory banks and corporations does not inspire confidence that he would transform the World Bank into an institution that can work for people and the planet.¡±
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